Sunday 15th April 2012

Dear Reader,

Chinese Africans in HK
New data obtained by Webb-site show that Gambia and Guinea-Bissau, two small African countries, now account for 75% of the mainland Chinese who have obtained residency in HK under the Capital Entrant Investment Scheme. The requirement for mainlanders, who account for 84% of the CIES, to obtain permanent residency somewhere else is farcical and should be scrapped. It is part of HK's value proposition to be the Monaco of China, and we should welcome them. (15-Apr-2012)

Pushing water uphill
The slow drip of the Water Supplies Department's e-billing system. (25-Mar-2012)

Webb on "Backchat" re government intervention
RTHK, 13-Apr-2012

Takeovers Panel requires Offerors for China Gas Holdings Limited to make clarification announcement
SFC, 12-Apr-2012

Enerchina (0622): late disclosure of sale of 500m shares (10.95%) of Mascotte (0136)
Company announcement, 10-Apr-2012
The original purchase price was $0.40 per share, $200m in total, and they have been sold for $40.26m, or about $0.0805 per share, an 80% loss.

Ausnutria Dairy (1717): E&Y has unresolved issues about our sales
Company announcement, 10-Apr-2012

Yue Da Mining (0629) and CEO to face Market Misconduct Tribunal
Company announcement, 5-Apr-2012

Statement by SHKP
Company media release, 3-Apr-2012
Comment: SHKP complains about "unfounded speculation concerning the investigations". There's a simple solution: publish the allegations and state the company's response to those. Don't keep investors in the dark and then expect them not to speculate.

Webb reappointed to Takeovers Panel and Takeovers Appeal Committee
SFC, 30-Mar-2012
He is one of 3 investors on the 32-member panel.

Shanghai Pharmaceuticals (2607): controlling shareholder wants Chairman removed
Company announcement, 30-Mar-2012
Comment: if this was voluntary then he would just resign rather than be removed. The controller says "there would be other work arrangements for Mr. Lu".

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